People can value objects they successfully built above comparable objects they did not build.
Norton, Mochon and Ariely's studies with IKEA boxes, origami and Lego. Builders valued their own output near the price of expert work, and the effect disappeared when participants failed to complete the task or built and then destroyed the object.
In practice
- A team that spent six weeks building an internal tool rates it above the commercial product it replaced and cannot say on what dimension.
- A householder who tiled the bathroom themselves prices the house accordingly and no surveyor agrees.
- Standing
- The effect depends on successful completion; it disappeared where the build failed or was undone.
- Further reading
- Wikipedia
- Subject
- Decision-making & Reasoning
- Essay
- The catalogue of predictable errors